MALEISIË - South East Asian nations must accelerate regional economic integration, diver-sify their markets, and stay united to tackle the fallout from global trade disruptions resulting from sweeping US tariffs, ...
Malaysia’s foreign minister said Sunday.
Mohamad Hasan, at a meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN), also reiterated the bloc’s call for an end to Myanmar’s civil war, and downplayed plans of Myanmar’s ruling military to hold elections later this year as a “whitewash”.
“ASEAN nations are among those most heavily affected by the US-imposed tariffs. The US–China trade war is dramatically disrupting production and trade patterns worldwide. A global economic slowdown is likely to happen,” Mohamad said. “We must seize this moment to deepen regional economic integration, so that we can better shield our region from external shocks.”
ASEAN countries, many of which rely on exports to the US, are reeling from tariffs imposed by President Donald Trump’s administration, ranging from 10 per cent to 49 per cent. Six of the bloc’s 10 members are among the worst-hit, likely affecting ASEAN’s targeted growth forecast of 4.7 per cent this year, trade officials said. (Jamaica Gleaner)
